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Another Set-Back For Qualcomm (QCOM)

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By Douglas A. McIntyre Published
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Qualcomm (QCOM) is still trying to get the ITC ban on importing some handsets that use its tech from being imported into the US. The ITC ruled that certain Qualcomm technology infringed on patents held by rival Broadcom (BRCM). A US appeals court refused to rule on the matter saying it did not have jurisdiction.

As the FT points out: "Verizon Wireless, the second-largest US mobile carrier, has moved to ensure an uninterrupted supply of new phones that use the disputed technology. It has agreed to pay up to $200m in licensing fees to Broadcom to avoid the ITC ban on imports." The big US carrier does not want to wait for the issue to be resolved.

The market is generally pretty efficient about analyzing big news like the Qualcomm troubles. And, the market is saying the the news is bad. Qualcomm’s stock has dropped from $45.53 to as low as $42.83 in one day.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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